Global food and beverage giant Danone has announced the $1.65 billion acquisition of Huel, a nutrition drink founded in the UK in 2015.
Huel’s “nutritionally complete” ingredients position it as a convenience beverage. Over the years, the company has added meals, bars, and supplements to its portfolio.
Danone said the acquisition will help the company expand into the functional nutrition space, citing Huel’s strong customer loyalty in the UK, Europe, and the US.
“We are delighted to welcome Huel and the Huel team into the Danone family,” Antoine de Saint-Affrique, CEO of Danone SA, said.
“We look forward to learning from one another and unlocking new opportunities and growth for both businesses.”
The transaction remains subject to customary closing conditions, including regulatory approvals.
“We are so excited to be joining Danone, and today marks the next step for Huel,” Huel’s CEO, James McMaster, added. “We’ve spent 10 years building a brand with a positive impact on people’s health.
“With Danone, we will now have the infrastructure, distribution, and R&D capability to go further, into new markets and to more people, as demand for convenient, complete nutrition continues to grow.
“We’re so proud of what the team has built, and excited about what comes next,” he concluded.
